MARANA, Ariz., April 27 (UPI) -- Companies responsible for storing and maintaining grounded aircraft in the United States are thriving amid the current economic downturn, an expert says.
Steve Coffaro, vice president of sales at the Evergreen Maintenance Center in Marana, Ariz., said his company has been enjoying increased business despite the ongoing recession, ABC News said Monday.
"Our company has experienced a 15- to 25 percent increase in storage over the past six months, and the current forecast would support another 15- to 20 percent inventory addition over the next quarter," the airplane storage official said.
Richard Aboulafia, the Teal Group's vice president of analysis, said the storage industry's bounty is directly correlated to the struggling airline industry.
"From a consumer standpoint, you've never had it so good, routinely paying $250 or less roundtrip across the country," Aboulafia told ABC News. "To sustain that, given the drop in traffic, planes have to come out of service."
ABC News said Delta Airlines has reported $794 million in losses partially due to the struggling U.S. economy while American Airlines and Continental Airlines have reported $375 million and $136 million in losses, respectively.